Akari Therapeutics changes ADS ratio to maintain Nasdaq listing

Akari Therapeutics Plc (NASDAQ: AKTX) announced it will change the ratio of its American Depositary Shares to ordinary shares from one ADS representing 2,000 ordinary shares to one ADS representing 80,000 ordinary shares, effective March 31, 2026.

The oncology biotechnology company said the ratio change is intended to maintain compliance with Nasdaq minimum bid price requirements for continued listing. ADS holders will be required to exchange every 40 current ADSs for one new ADS on the effective date.

Deutsche Bank, serving as the depositary bank, will arrange the exchange of current ADSs for new ADSs. The company's underlying ordinary shares remain unchanged, and ADSs will continue trading on the Nasdaq Capital Market under the symbol AKTX.

No fractional new ADSs will be issued in connection with the ratio change. Fractional entitlements will be aggregated and sold, with net cash proceeds distributed to applicable ADS holders by Deutsche Bank after deduction of fees, taxes and expenses.

Akari stated it cannot provide assurances regarding ADS price performance following the ratio change. The Tampa, Florida and London-based company develops antibody drug conjugates with RNA splice modulating payloads for oncology applications.

The company's lead candidate, AKTX-101, targets the Trop2 receptor on cancer cells and uses a proprietary PH1 payload designed to disrupt RNA splicing within cancer cells. Akari has initiated IND enabling studies for AKTX-101 with plans to begin a first-in-human trial by late 2026 or early 2027.

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